Greece raises 1.6 bln euros from 3-month T-bill auction

Greece on Tuesday successfully auctioned a three-month Treasury bills issue raising 1.25 billion euros from the market at a slightly lower cost.
The Public Debt Management Organisation, in a statement, said the issue was 3.08 times oversubscribed with bids submitted totaling 3.845 billion euros. The organisation accepted bids worth 1.25 billion euros at an interest rate of 4.58 pct, down from 4.62 pct of the same auction in June 21.
The auction was made through the market’s primary dealers and settlement date was set Friday, 22 July. The organisation also accepted non-competitive bids worth 375 million euros, while it reserved the right to accept additional non-competitive bids up to 30 pct of the asked sum.

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